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Gladstone Investment: Fiscal 4Q Earnings Snapshot

MCLEAN, Va. (AP) _ Gladstone Investment Corp. (GAIN) on Monday reported fiscal fourth-quarter net income of $2.4 million.

On a per-share basis, the McLean, Virginia-based company said it had net income of 6 cents. Earnings, adjusted for non-recurring costs, were 23 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The business development company posted revenue of $16.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $13.9 million.

For the year, the company reported profit of $81.6 million, or $2.49 per share. Revenue was reported as $59.7 million.

Gladstone Investment shares have climbed 29% since the beginning of the year. In the final minutes of trading on Monday, shares hit $12.04, a climb of 7% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GAIN at https://www.zacks.com/ap/GAIN